Architectural Coatings Market Share, Industry 2023 by BASF Coatings GmbH, PPG Industries, AkzoNobel N.V., Kelly-Moore Paint Company, The Sherwin-William Company, The Valspar Corporation, Nippon Paint, RPM International, Kansai Paint and Asian Paints

Industry News

PPG, on Jul 26, 2018, has announced the completion of COLORFUL COMMUNITIES project in Dallas, Texas, that has helped to revitalize the Dallas Independent School District’s Lorenzo De Zavala Elementary School. The Colorful Communities program offers paint products and PPG volunteers along with financial contributions to bring vitality and color to communities where the company operates around the world.

Competition Analysis

The prominent players operating the global market growth for Architectural Coatings are AkzoNobel N.V. (the Netherlands), The Valspar Corporation (the U.S.), The Sherwin-William Company (the U.S.), BASF Coatings GmbH (Germany), RPM International Inc. (the U.S.), Kelly-Moore Paint Company Inc. (the U.S.), Kansai Paint Co. Ltd (Japan), Asian Paints Ltd (India), Nippon Paint Co Ltd (Japan), PPG Industries Inc. (the U.S.), and more.

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Future Drivers and Constraints Impacting the Market Growth

The global market for Architectural Coating is estimated to expand over the assessment period, owing to the enhanced social and financial status in emerging economies. Increasing awareness related to the environment has led to the introduction of superior quality products in Architectural Coatings Market. With the rising white collar class population spending for everyday comfort coupled with government support for development in the urban territories, the market for Architectural Coatings is anticipated to stimulate in the coming years. The market is expected to witness an exceptional development in the coming years due to high demand from the residential application. Moreover, increasing demand for waterproofing and protecting materials in areas of critical weather conditions is estimated to influence the market over the forecast period. Also, shift from solvent-borne to water-borne coating formulations is also expected to drive the market growth over the forecast period.

Meanwhile, strict government mandates against harmful Volatile Organic Compound (VOCs) emitted from Architectural Coatings might hinder the growth of the market over the assessment period. However, adoption of green coatings might create growth opportunities. Government support toward these coatings will create huge growth opportunities in future.

Global Architectural Coatings Market Segmentation

Globally, the market for Architectural Coating has been segmented based on Application, Type, Technology and Region.

The market has been segmented into epoxy, acrylic, polyester, polyurethane, and others based on type. Among these, the acrylic segment has been anticipated to hold the largest revenue share as compared to other segments and is expected to maintain its dominance over the assessment period due to the widespread applicability in emulsion and water reducible resin which are used to manufacture varnishes and coats.

The market has been segmented into residential, non-residential, and others based on application. Demand for Architectural Coating is mainly driven by the growing need for new buildings in the non-residential sector. The growing need for sustainable products in interior applications coupled with high demand for higher durability and low-odor coating is stimulating the market growth. Moreover, the growth of Architectural Coatings is also supported by the increase in residential maintenance activities which involves recoating of existing structures.

The market has been segmented into solvent-borne and water-borne technology based on technology. Among these, the water-based technology is anticipated to dominate the market over the assessment period. High water content and low toxicity make water-based Architectural Coatings less flammable, which further results in the elimination of hazardous waste disposal. As water-based architectural coatings are environment-friendly, they are preferred over other types of Architectural Coatings. While on the other hand, solvent-based architectural coatings possess good curing properties and are petrochemical derivatives. The rate of volatile organic compounds emission is higher in solvent-based Architectural Coatings as compared to others which are considered to be one of the major disadvantages of this technology.

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